Nio Inc (NIO)

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After Plunging 45%, is NIO Stock a Good Buy?
By: Barchart | September 26, 2023

NIO (NIO) stock hit its 2023 closing high of $15.46 on Aug. 3 - and after setting an intraday high of $16.18 the next session, the stock's value has since been cut nearly in half. The stock briefly fell below $8 in Monday's session, and is now quite near its 52-week lows. NIO is currently down 45% from that early August closing high, and it's off 48% from that recent intraday peak.

NIO is the most popular Chinese electric vehicle (EV) stock among U.S. investors – or at least, that’s what its trading volumes tell us. Its average 50-day trading volume of 63.5 million shares is three times higher than Xpeng Motors (XPEV), and almost 10 times greater than Li Auto (LI) – which, incidentally, has outperformed its peers over the last couple of years.

As for NIO, is the stock a good buy at current levels, after shedding nearly half of its market cap in less than two months?


www.barchart.com

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